Compiled in 2010, Go Fashion (India) Limited is one of the largest underwear companies in India. The company is involved in the development, design, acquisition, marketing and sale of a variety of underwear products for women under the brand, ‘Go Colors’. The company offers a very wide portfolio of underwear products among women clothing retailers in India according to colors and styles. As of 31 May 2021, Go Colors has sold underwear in over 50 styles in over 120 colors.
As of 31 May 2021, the company has 450 specialty stores (EBOs) spread across 23 provinces and union districts in India. The company’s distribution channels include major format stores (LFSs) including Reliance Retail Limited, Central, Unlimited, Globus Stores Private Limited, and Spencer’s Retail among others. The company’s LFS grew from 925 LFSs in 2019 to 1,332 LFSs in May 2021. The company also sells its products through its website, online markets, and multi-product stores (MBOs).
Competitive Strengths
- One of the largest women’s bottom-wear brands in India
- Wide, well-diversified, product portfolio and first-mover advantage
- Multi-channel retail presence across India
- Strong unit economics with an efficient operating model
- Extensive procurement base and automated procurement & supply chain
- In-house expertise in developing and designing products
- Strong financial performance record
Company Promoters
- Prakash Kumar Saraogi
- Gautam Saraogi
- Rahul Saraogi
- PKS Family Trust
- VKS Family Trust
Company Financials
| Particulars | For the year/period ended (₹ in Millions) | ||
|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 5,483.67 | 5,191.86 | 4,041.31 |
| Total Revenue | 2,822.52 | 3,968.39 | 2,909.79 |
| Profit After Tax | (35.39) | 526.34 | 309.41 |
Objects Of The Issue
- Funding roll out of 120 new EBOs (Exclusive Brand Outlets);
- Funding working capital requirements; and
- To meet common corporate objectives.
Go Fashion IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Page Industries Limited | 106.35 |
| 2 | 1 | Trent Limited | N/A |
| 3 | 5 | Bata India Limited | N/A |
| 4 | 10 | Aditya Birla Fashion & Retail Limited | N/A |
| 5 | 2 | TCNS Clothing Company Limited | N/A |
Go Fashion IPO Risk
- The present and ongoing COVID-19 epidemic has had a severe impact on their company and operations.
- They are subject to all of the risks that come with leasing real estate, and any negative events might have a significant impact on their business.
- Their inability to manage or develop their retail network efficiently may have a negative impact on their business.
- Their private brand stores’ current sites may become unappealing, and appropriate replacement locations may not be available at all, let alone at a fair price.
- Their firm is the subject of ongoing legal actions. Any negative outcome in such actions might be damaging to their brand.
Other Threats
- In fiscal year 2021, we lost money. Their firm may suffer if they continue to experience net losses in the future.
- Any flaw in their quality assurance procedures might have a negative impact on their business.
- For the supply of raw materials and delivery of their goods, they rely on third-party transportation companies.
- They may not be able to expand their business into new domestic markets, which might harm their commercial prospects.
- Their sector is competitive, and their inability to compete successfully might harm their company.
- Internal control system failures might result in operational mistakes, which could have a negative impact on their profitability.
Go Fashion IPO – Details
| IPO Opening Date | 17 November 2021 |
| IPO Closing Date | 22 November 2021 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 1013.61 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | [655] To [690] Per Equity Share |
| Market Lot | 21 Shares ( 1 Lot ) |
| Min Order Quantity | 21 Shares |
| Listing At | BSE, NSE |
| Register | KFintech Private Limited |
Go Fashion IPO – Date Schedule
| IPO Open Date | 17 November 2021 |
| IPO Close Date | 22 November 2021 |
| Basis of Allotment Date | 25 November 2021 |
| Initiation of Refunds | 26 November 2021 |
| Credit of Shares to Demat Account | 29 November 2021 |
| IPO Listing Date | 30 November 2021 |
Go Fashion IPO – Lots Size & Price
| Application | Lots | Shares | Amount ( Cut-Off) |
| Minimum | 1 | 21 | 14,490 |
| Maximum | 13 | 273 | 1,88,370 |
Promoter Holding
| Pre Issue Share Holding | 57.47% |
| Post Issue Share Holding |
Go Fashion IPO Prospectus
Company Contact Information
| Go Fashion (India) Limited Sathak Center, 5th Floor, New No. 4, Old No. 144/2, Nungambakkam High Road, Chennai, Tamil Nadu 600 03 Phone: +91 44 4211 1777 Email: companysecretary@gocolors.com Website: https://www.gocolors.com/ |
Go Fashion IPO Registrar
| KFin Technologies Private Limited Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally Hyderabad, Rangareddi 500 032, Telangana, India Tel: +91 40 6716 2222 E-mail: gofashion.ipo@kfintech.com Website: www.kfintech.com |
Go Fashion IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. DAM Capital Advisors Limited 3. JM Financial Limited |
Go Fashion IPO FAQs
| When Go Fashion IPO will open? The Go Fashion IPO dates are 17 November 2021 To 22 November 2021. |
| What is the lot size of Go Fashion IPO? Go Fashion IPO lot size and the minimum order quantity is [21 Shares]. |
| How to apply for Go Fashion IPO? You can apply in Go Fashion IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. |
| When is Go Fashion IPO listing date? The Go Fashion IPO listing date is announced. The date of Go Fashion IPO listing is [30 November 2021]. |
